For the third consecutive day this week, the Nigerian Exchange sustained its bearish trend, resulting in investors losing N32bn. This was primarily attributed to the declines experienced by Berger, Cutix, and Nigerian Aviation Handling Company.
Berger, Cutix, and Nigerian Aviation Handling Company saw respective decreases of 10%, closing at N13.50, N5.13, and N35.10.
By the end of trading on Wednesday, the All-Share Index and market capitalization of the local bourse both decreased by 0.06% to 97,774.22 and N55.51tn, respectively. This brings the year-to-date loss to 31.70%.
A total of 1,838,183,450 units of shares were traded in 10,847 deals valued at N23.11bn.
Market breadth ended negatively with 27 equities gaining and 29 equities losing.
The top gainers were Industrial and Medical Gases Nigeria, University Press, and Veritas Kapital Assurance Plc, with each gaining 10% to close at N14.30, N2.42, and N0.99, respectively.
There was a 360% increase in volume, a 189% increase in turnover, and the number of deals rose by four percent.
Fidelity Bank had the highest volume of traded shares at 1.33bn, followed by Zenith Bank with 83.9m units.